Consolidation has been a constant in the event technology sector, as large players have worked to shore up their platforms with smaller competitors offering a diverse variety of services.
Event technology giant Cvent on Tuesday announced it bought Social Tables, the Washington, D.C.-based event technology platform founded by Dan Berger in 2011. The value of the transaction was not disclosed, but pegged by Washington Business Journal as more than $100 million although sources say the actual total was lower.
Social Tables has raised $22.5 million in funding since its inception, according to Crunchbase, most recently a $13 million Series B round led by QuestMark Partners in October 2016. The company offers a web-based platform for event planners that helps them easily deal with seating charts, registration, sourcing venues, and marketing.
Cvent CEO Reggie Aggarwal told Skift that he had long admired Social Tables, partnering with them at times and watching the company grow over the course of the decade. Social Tables’ core product, which allows event planners to determine and alter seating arrangements on a map of a meeting space’s actual dimensions, was an extremely attractive addition to the Cvent platform.
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